Hong Kong is the most economically free market in the world
FOTOLIA
The old saying ‘When America sneezes, the rest of the world catches a cold’ will no longer hold true in the latter part of the twenty-first century. China has shown that its economy can grow even when America’s shrinks, and in 2001 Jim O’Neill of Goldman Sachs suggested that Brazil, Russia, India and China (the BRIC) would become the four most dominant economies by the year 2050. Economic development in China and other parts of the world might help to explain why.
The speed of China’s economic development has been phenomenal since it joined the World Trade Organization in 2001. For example:
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